Kimco Realty Corp. Q3 FY2023 results: revenue $446 million, up 2.9% on the year

Kimco Realty Corp. (KIM) reported revenue of $446 million for Q3 FY2023, the quarter ended 30 September 2023, up 2.9% on the same quarter a year earlier. Net income was $118 million, up 104.0% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2023.

Revenue$446 millionup 2.9%

Net income$118 millionup 104.0%

Diluted EPSn/a

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	446	n/a	n/a	n/a
Operating income	141	n/a	n/a	n/a
Operating margin	31.5%	n/a	n/a
Interest expense	60.4	n/a	n/a	n/a
Pre-tax income	102	n/a	n/a	n/a
Income tax	-0.7	n/a	n/a	n/a
Effective tax rate	-0.7%	n/a	n/a
Net income	118	n/a	n/a	n/a
Net margin	26.5%	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	281	n/a	n/a	n/a
Depreciation and amortisation	127	n/a	n/a	n/a
Share-based compensation	7.9	n/a	n/a	n/a
Dividends paid	149	n/a	n/a	n/a
Dividend per share	$0.23	n/a	n/a	n/a
Diluted shares, weighted	617m	n/a	n/a	n/a
Shares outstanding at period end	620m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Total assets	17,951	n/a	n/a	n/a
Cash and equivalents	421	n/a	n/a	n/a
Borrowings, as the company tags them	6,772	n/a	n/a	n/a
Shareholders' equity	9,590	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	446	452	504	500	508	525	537	525	536	542	558	551
Operating income	141	169	131	161	171	166	180	206	187	197	208	196
Operating margin	32%	37%	26%	32%	34%	32%	34%	39%	35%	36%	37%	36%
Interest expense	60.4	67.8	74.6	73.3	76.2	83.7	80.4	81.2	84.3	84.4	83.1	83.9
Pre-tax income	102	125	40.5	93.0	117	100	112	140	113	129	136	122
Tax rate	-1%	-0%	178%	0%	0%	-47%	0%	0%	-1%	1%	-0%	0%
Net income	118	140	-11.0	120	136	166	133	163	138	151	165	153
Net margin	27%	31%	-2%	24%	27%	32%	25%	31%	26%	28%	30%	28%
Operating cash flow	281	190	176	294	296	240	224	305	332	258	243	345
Capital expenditure	n/a	n/a	n/a	n/a	n/a	n/a	18.4	0.0	0.0	0.0	n/a	n/a
Free cash flow	n/a	n/a	n/a	n/a	n/a	n/a	205	305	332	258	n/a	n/a
Buybacks	n/a	n/a	n/a	n/a	0.0	n/a	0.0	58.8	0.0	61.5	0.5	105
Dividends paid	149	211	168	170	170	175	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	620m	620m	674m	674m	674m	679m	679m	677m	677m	674m	674m	670m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 27 October 2023, accession 0001437749-23-029222: the filing on EDGAR. All of Kimco Realty Corp.'s filings: EDGAR company page.

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